Mubarak Cedes Power to Military to End 30-Year Reign

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Hosni Mubarak ceded power to the Egyptian military as a popular revoltBloomberg Terminal swept away the leader of the Arab world’s most populous state, throwing into question the future course of a key U.S. ally in the Middle East.

After 30 years of autocratic rule by Mubarak, the only leader most Egyptians have known, the country began a new day under a military council that promises to lead Egypt through a democratic transformation. What happens next was left unclear, including the timing for constitutional reforms and elections.